Take note, spenders: Refinance your loans, find ways to curb expenses

Among key belt-tightening measures, discretionary expenses are easier to pare

New Delhi-based Kapil Dev Bhagat, 50, started a travel agency two years ago. Just when his business seemed ready to take off, the Covid-19 pandemic broke out.

“My earnings have plummeted to near zero for the past three months,” he says.

With the situation unlikely to improve any time soon, Bhagat has been on an austerity drive, hunting for every possible avenue to curtail expenses.

Here are a few suggestions for those who find themselves in financial dire straits.   

 

Where is the money going?

Note down each expense for